Here's the Average Social Security Benefit at Ages 62 to 80

By Trevor Jennewine – Mar 15, 2026 at 4:45AM ESTKey PointsWorkers can start Social Security as early as age 62, but they will not maximize their monthly benefit unless they delay until age 70.The average 70-year-old retired worker receives $2,275 per month in Social Security benefits.The average 62-year-old retired worker receives $1,424 per month in Social Security benefits.In any given year, more than 20% of newly awarded retirees generally claim Social Security as early as possible (i.e., age 62). In turn, they receive the smallest possible benefit based on their personal circumstances. Meanwhile, less than 10% of newly awarded retirees maximize their benefit by delaying until age 70. Read on to learn exactly how much claim age impacts Social Security payouts. Image source: Getty Images. The average Social Security benefit for retirees at ages 62 through 80 The Social Security Administration periodically publishes anonymized benefit data to promote transparency and improve public understanding. The information in the chart below comes from a biannual report last updated in December 2025. It shows the average monthly Social Security benefit paid to retired workers aged 62 to 80.

Age Average Retired-Worker Benefit 62 $1,424 63 $1,436 64 $1,478 65 $1,607 66 $1,807 67 $2,016 68 $2,053 69 $2,097 70 $2,275 71 $2,248 72 $2,205 73 $2,208 74 $2,179 75 $2,145 76 $2,157 77 $2,171 78 $2,140 79 $2,156 80 $2,106 Data source: Social Security Administration. Note: Payments have been rounded to the nearest dollar. There are two noteworthy trends in the chart above. First, the average retired-worker benefit tends to increase between ages 62 and 70. That happens due to differences in claim age. Workers are entitled to Social Security at age 62 but are not entitled to large possible benefits based on their lifetime earnings until age 70. Second, the average Social Security benefit begins to decrease after age 70. That happens because payouts are based on lifetime earnings, and wages tend to increase over time. Put differently, younger retirees generally made more money during their careers, so they tend to receive larger Social Security benefits. How your Social Security benefit is calculated The Social Security Administration considers two variables when calculating benefits for retired workers: lifetime earnings and claiming age. The two-step process detailed below explains exactly how those variables influence the final payout. Step 1: A formula is applied to the inflation-adjusted earnings from the 35 highest-paid years of a worker's career to determine their primary insurance amount (PIA). The PIA is the benefit a worker will get if they start Social Security at full retirement age (FRA), which is 67 for anyone born in 1960 or later. Step 2: The PIA is adjusted for early or delayed retirement. Retirees who claim Social Security before FRA get a smaller benefit, meaning they receive less than 100% of their PIA. Workers who start Social Security after FRA get a bigger benefit, meaning they receive more than 100% of their PIA. There are two important conditions for those rules. First, eligibility for retirement benefits begins at age 62, so no one can claim earlier. Second, delayed retirement credits stop accumulating at age 70, so no one should ever claim later. The chart below details the relationship between birth year and full retirement age. It also shows the benefit (as a percentage of PIA) retired workers in each age group will receive if they claim Social Security at ages 62 and 70. In other words, it shows the smallest and largest possible payouts across different age groups.

Birth Year Full Retirement Age Benefit at Age 62 Benefit at Age 70 1943-1954 66 75% 132% 1955 66 and 2 months 74.2% 130.6% 1956 66 and 4 months 73.3% 129.3% 1957 66 and 6 months 72.5% 128% 1958 66 and 8 months 71.7% 126.6% 1959 66 and 10 months 70.8% 125.3% 1960 and later 67 70% 124% Data source: The Social Security Administration. The chart above makes it clear that Social Security is highly dependent on claiming age. Indeed, retirees born in 1960 or later can increase their benefit by 77% by simply claiming Social Security at age 70 as opposed to age 62. Here is an example: The average retired worker had a PIA of $2,116 in 2024. Assuming a birth year of 1960 or later, that person would receive $1,481 per month if they started Social Security at 62 (i.e., 70% of $2,116). But the same person would receive $2,624 per month if they started Social Security at 70 (i.e., 124% of $2,116). The exact dollar amounts will vary between people due to differences in lifetime earnings, but the percent increase will remain constant. In this case, $2,624 is 77% larger than $1,481.Read NextMar 15, 2026 •By Keith SpeightsAre You Making These 3 Common Required Minimum Distribution (RMD) Mistakes?Mar 15, 2026 •By Dana GeorgeHow to Protect Your Social Security Spousal BenefitsMar 15, 2026 •By Maurie BackmanMedicare Won't Pay for These Common Healthcare Costs in Retirement. Here's How to Get Them CoveredMar 14, 2026 •By Maurie BackmanThis Common Budget Habit Could Be Quietly Destroying Your Retirement SavingsMar 14, 2026 •By Maurie BackmanIf You're Behind on Retirement Savings at 50, Here's a Strategy That Could Help You Catch UpMar 14, 2026 •By Kailey Hagen, CFPThis Is Where I Start Saving for Retirement Every YearAbout the AuthorTrevor Jennewine is a contributing Motley Fool stock market analyst covering technology, cryptocurrency, and investment planning. Prior to The Motley Fool, Trevor managed several pharmacies. He holds a doctor of pharmacy degree from Oregon State University, a master’s degree in business administration from Miami University, and a bachelor’s degree in biology from Miami University.TMFphoenix12X@tjennewine1